Marley Spoon AG (ASX: MMM) - Marley Spoon’s interim financial result on track to meet prospectus forecast

  • Aug 29, 2018 AEST
  • Team Kalkine
Marley Spoon AG (ASX: MMM) - Marley Spoon’s interim financial result on track to meet prospectus forecast

Recently listed on ASX, Marley Spoon AG (ASX: MMM) has today announced financial results for the first half year ended 30 June 2018. Consolidated interim revenue has gone up 99% on the prior corresponding period to €39.5 million, excluding the impact of foreign currency change.

For the six-month ended 30 June 2018, the company has observed strong growth across all regions in which Australia remains the best performer with 104% growth in revenue to $23.7 million. The strong growth in Australia’s segment narrowed down its operating EBITDA loss to €1.2 million, thereby coming on track to meet prospectus forecasts.

The company has reported first-half net loss of €19.4 million compared to €13.2 million a year earlier. Contribution margin increased from 13% in 1H17 to 22% in 1H18, driven by lower cost of goods sold. The group has not recognized or paid any dividend for the reporting period.

Marley Spoon’s stock has seen no daily price change, trading at $0.950 on 29 August 2018 (6:25 PM AEST).

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